About Us

We Are National Development

National Development is a vertically integrated real estate investment, development, construction and asset management firm. We work closely with our partners and stakeholders to create vibrant and interesting places. Through over 300 projects and three decades of experience, we have become part of the communities in which we work. Our local knowledge and relationships combined with our understanding of the global capital markets result in exceptional projects and attractive investments.

Our Mission

We turn projects into communities. We work collaboratively as long-term partners, creating value for our investors and enhancing the neighborhoods in which we build.

DEI Statement

Equal. United. Empowered. We Are Better Together.

National Development values all perspectives and strives toward inclusivity because we believe that equal opportunity and shared success strengthens both our firm and our community. We are actively pursuing a number of improvements within our company that move us toward meaningful, long-term, sustained change. We are committed to fostering diversity, equity, and inclusion through the many ways that we create, build, and impact the communities in which we live and work.

Strength & Capability

Our greatest strength is our people; 300 team members bring expertise in every aspect of the value creation process, across all property categories including office, research, industrial, retail, senior housing, multifamily and hotel.

National Development’s activities are primarily funded by our closed-end discretionary funds. We launched our first fund in 2006 and have subsequently raised over $1.1 billion via four fully discretionary funds comprised primarily of endowments, foundations, institutions and family offices. We are currently investing our $400,000,000 Fund IV, which we expect will be deployed into $1.5 – 2 billion of new acquisitions and developments.

Experience

Over National Development’s nearly 40-year history in Boston, we have developed over 30 million SF in over 45 communities, investing over $6 billion. Our knowledge of the Greater Boston market and its many cities and towns is unparalleled. National Development is consistently ranked by the Boston Business Journal as one of the largest real estate development and investment firms in New England.

Innovation & Performance

National Development has distinguished itself as one of Boston’s most creative and innovative real estate firms, with a long track record of creating great places in which people want to work and live. Our vertically integrated structure, with the discretionary capital and in-house acquisition, development, construction and property management expertise, has earned our firm a reputation for reliably executing thoughtfully conceived projects on time and on budget.

Our Values

Collaboration

It’s true. We are better together. Through collaboration, we turn visions into realities and projects into communities. Through teamwork, trust and open communication, we inspire each other with a strong sense of purpose to create great places.

Community

We’re committed to working together with the cities and towns in which we work, creating environments that have a deep impact on people’s lives. We also believe in giving back. Every year, we support over 100 charitable and community organizations including United Way of Massachusetts Bay, Heading Home, Building Impact, Foundation for MetroWest, Habitat for Humanity and many others.

Creativity

From innovative deal structures to creative placemaking, we pride ourselves on our ability to think outside the box and maximize the potential of each project. We draw inspiration from history, sound planning and design principles, and community input to deliver projects that empower change, growth and transformation.

What We Do

As a vertically integrated company with in-house capital combined with acquisition, financing, permitting, development, construction and management expertise, we are able to bring a high level of speed, reliability and efficiency to the process of creating great places. 

Investment

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In 2006, ND launched the firm’s closed-end series of investment funds and has subsequently raised over $1.6 billion via five fully discretionary funds comprised of endowments, institutions, family offices, and high net worth individuals. The firm is currently investing its $475,000,000 Fund 5, focusing on properties where value can be increased through repositioning, redevelopment and/or ground up development.

The funds have invested in over $7 billion in real estate assets over the past 18 years in the Greater Boston area.

 

Development

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Our development team excels at taking a project from the initial acquisition through construction and stabilization. Our deep understanding of market forces, planning issues, the permitting process, design and financing are the key ingredients to our success. We are primarily focused on the development or redevelopment of mixed-use properties that combine several project types to create vibrant, attractive places.

 

Construction

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Cranshaw Construction is our construction manager/general contractor affiliate. The firm builds office, industrial, residential, life science, retail, hotel and other project types on behalf of both National Development and third party clients. Cranshaw’s capabilities include pre-construction services, site analysis, feasibility and conceptual estimating, plan review and value engineering. The firm is consistently ranked by the Boston Business Journal as one of the top ten largest construction management firms in Greater Boston.

Property Management

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Our property management group is one of the largest in the region and manages nearly 8 million SF of commercial, industrial, multifamily and retail space, including approximately 2,800 apartment units, for both National Development and third party clients. We are committed to maximizing the value of each client’s asset through proactive marketing, tenant retention and community engagement programs, comprehensive maintenance, and detailed financial reporting.  For more information about the residential communities we manage, visit www.ndcommunities.com.

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Awards

2014

  • Building Impact Silver Impact Award

2013

2011

  • NAIOP Distinguished Real Estate Award

  • The American Consulting Engineers Council of Massachusetts, Excellence Award

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Media

  • Charlie Rollins Promoted to Principal at National Development

    January 9, 2024

    National Development has promoted Charlie Rollins to Principal. Charlie has extensive experience in complex, mixed-use projects from New England to Florida. As Principal, Charlie will oversee key projects, help to manage the development team and provide overall leadership. Charlie joined ND’s development group in 2022 as Senior VP after serving...

  • Waterstone on High Ridge Wins Multi Family Housing Award

    September 28, 2023

    Waterstone on High Ridge received praise for its repurposing of the former campus of GE Financial in Stamford and for its design. Waterstone on High Ridge has won a merit award in the 2023 Multifamily Executive Awards in the Senior Housing category. Waterstone on High Ridge was selected from among 240...

  • Developers Turn Office Site Into Senior Living Community

    September 5, 2023

    This year’s awards celebrate the industry’s top people, projects, and programs. In a time of economic uncertainty, multifamily owners, developers, architects, and builders continue to raise the bar for creating innovative and thoughtful communities that cater to residents’ needs. Our 2023 MFE Awards winners exemplify the tenacity and perseverance happening...

  • 2023 Power 25 Real Estate: Ed Marsteiner

    June 12, 2023

    Ed Marsteiner has been the face of Newton, Massachusetts-based National Development since plans for the company to buy and develop 300 acres at East Hartford’s Rentschler Field were announced in November 2021. After cordial but long-running negotiations with the town of East Hartford and property owner Raytheon Technologies, the developer...

  • National Development Announces Construction of New Logistics Facility in West Bridgewater

    May 2, 2023

    NEWTON, MA – National Development announced that it has closed on the acquisition of a 20-acre parcel located at 586 Manley Street in West Bridgewater, MA, and that it has commenced construction on a 210,600 square-foot Class A logistics facility. The building is expected to be able to accommodate tenants...

  • Wayfair, Lowe’s Bringing Hundreds of Jobs in Move to 2.5-Million-Square-Foot Logistics Centers in East Hartford

    March 6, 2023

    The e-commerce giant Wayfair and Lowe’s, the country’s second-largest hardware retailer, will be the tenants of the two mega-warehouses that National Development is building in East Hartford, the developer announced Monday. At a groundbreaking ceremony, state and federal officials called the massive project at Rentschler Field transformational for the city,...


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